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House prices and listings fall, but demand up
Property Pulse Report - May 2025
By Gavin Lloyd 10 June 2025Metro centre prices hit eight month lows
New Zealand Property Price Index
-1.2% month on month (-1.1% excluding Auckland)
Month-on-Month Change in Average Asking Price
The national average asking price decreased 1.2% from April, bringing it to $845,250.
| Region | Property Price Index | MoM % change | |||
|---|---|---|---|---|---|
| Auckland | Auckland | $1,030,850 | $1,030,850 | -1.5% | -1.5% |
| Bay of Plenty | Bay of Plenty | $869,350 | $869,350 | -2.7% | -2.7% |
| Canterbury | Canterbury | $705,650 | $705,650 | -0.6% | -0.6% |
| Gisborne | Gisborne | $635,050 | $635,050 | -0.2% | -0.2% |
| Hawke’s Bay | Hawke’s Bay | $739,050 | $739,050 | -2.0% | -2.0% |
| Manawatuū/Whanganui | Manawatuū/Whanganui | $586,600 | $586,600 | 0.1% | 0.1% |
| Marlborough | Marlborough | $728,200 | $728,200 | -2.8% | -2.8% |
| Nelson/Tasman | Nelson/Tasman | $821,900 | $821,900 | -0.8% | -0.8% |
| Northland | Northland | $791,250 | $791,250 | -1.4% | -1.4% |
| Otago | Otago | $850,600 | $850,600 | -1.4% | -1.4% |
| Southland | Southland | $518,650 | $518,650 | 1.2% | 1.2% |
| Taranaki | Taranaki | $691,250 | $691,250 | 1.5% | 1.5% |
| Waikato | Waikato | $800,900 | $800,900 | -0.9% | -0.9% |
| Wellington | Wellington | $805,100 | $805,100 | -0.6% | -0.6% |
| West Coast | West Coast | $452,250 | $452,250 | 1.4% | 1.4% |
Supply and demand
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